A Declaration of Revocable Trust is commonly used in England and Wales for estate planning and asset management purposes. This document enables individuals to create a flexible trust structure while maintaining control over their assets during their lifetime. It's particularly useful for those who want to establish clear asset management frameworks while retaining the ability to make changes as circumstances evolve. The declaration includes detailed provisions about trust administration, beneficiary rights, trustee powers, and modification procedures, all compliant with English trust law principles.
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1. Declaration: Formal statement creating the trust
2. Parties: Details of settlor and trustees
3. Definitions: Key terms used in the trust deed
4. Trust Property: Description of assets placed in trust
5. Beneficiaries: Identity and rights of beneficiaries
6. Trustee Powers: Scope of trustees' authority
7. Amendment and Revocation: Powers to modify or terminate trust
1. Investment Powers: Specific investment guidelines, used when trust includes financial assets
2. Successor Trustees: Provisions for replacement trustees, used in longer-term trusts
3. Spendthrift Provisions: Protections against beneficiary creditors, used when asset protection is needed
4. Distribution Instructions: Specific rules for distributions, used for complex beneficiary arrangements
1. Schedule 1: Trust Property: Detailed inventory of trust assets
2. Schedule 2: Initial Trustees: Details of appointed trustees and their contact information
3. Schedule 3: Beneficiary Details: Full information about beneficiaries and their entitlements
4. Schedule 4: Investment Guidelines: Specific investment parameters and restrictions
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